[Vigilanteman]

Not a good tactic. A lot of these bottom-feeding collection agencies buy and resell debt so often, it becomes almost impossible to trace the original origin of the debt (someone with a similar name or address), who is actually entitled to collect it or even if it is legitimate.

Paying a debt you don't owe is like hanging a "Kick Me" sign on your record for all these bottom feeders.

[Feasor13]

There’s also a statute of limitations on the debt. A debt from 1995 has probably run its course already anyway.

[bvw]

You are right that large databases of old ‘unpaid’ debt are bought and sold all the time for small pennies on the dollar. IMO, the agencies are — by established practice, if not a deliberate pattern of management — lax in maintaining the fidelity of those records. Why is that? Because only the honest pay up.

That is, the honest persons who are a poor record keepers will make the super-old debtor list profitable. How? By paying again an again, on old debts, which a ‘sloppy’ agency never marked paid-off. If you ever get in trouble on a debt with an agency, keep the canceled check and ‘PAID IN FULL’ payment receipt, forever.